Research On Regional Cluster And Factors Of Venture Capital In China

Venture capital industry is an indispensable engine and propeller of the industrialization of new and high technology. Therefore, it is of great strategic and realistic importance for China in shifting mode of economic growth, adjusting industrial structure, allocating resources rationally and thus sharpening the competitive edge of the Chinese economy. Against such a background, venture capital becomes a hot topic, and its regional cluster characteristic is also a meaningful and rewording research.With the theory of Finance, Regional Economy, Industry Economy and so on, this paper does a deep research on regional cluster and its factors of venture capital by using qualitative and quantitative ways.The paper consists of five chapters. In the first chapter, the background of this research, primary content and status quo are introduced. The second chapter briefs the regional cluster development of venture capital industry in America, Europe and China, and differences among these countries can been pointed out. The third chapter analyzes the reasons of venture capital's regional cluster, explaining venture capital's regional cluster from two aspects: the number of institutions and investment items. The forth chapter (empirical chapter) can be divided into 3 steps: firstly, classify 27 provinces into 3 sorts by using hierarchical clustering methods, according to their development levels of venture capital; then, define an index of venture capital's regional development; last but not the least, the paper derives two metric models focusing on the venture capital's regional cluster and its factors.Finally, we put forward some politic recommendations to boost our country's venture capital based on the academic analysis and positive results.